Bridge Financing
Ready Capital provides short-term, non-recourse bridge and mezzanine loans nationwide on transitional, value-add and event-driven commercial and multifamily real estate. We lend up to $45 million (larger for select assets and portfolios) for middle-market and institutional commercial real estate sponsors, and larger on a case-by-case basis.
We provide floating and fixed rate terms to five years for multifamily, office, retail, industrial, mixed-use, self-storage, student housing, hospitality, residential and commercial condo, and specialty use properties. We consider the full range of value add strategies and deliver structured finance solutions backed by experienced bridge lending professionals.
Check out our most recent transactions and client testimonials:
Bridge
Fractured Condominium
Year Term
Melbourne, FL
$18,280,000
Melbourne, FL
Features
Acquisition & Renovation, Bridge, Fractured Condominium, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Office
3 Year Term
Greenwood, IN
$6,600,000
Greenwood, IN
Features
Purchase, Bridge, Office, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Mixed Use
4 Year Term
Charlotte, NC
$22,600,000
Charlotte, NC
Features
Refinance and Stabilization, Bridge, Mixed Use, 4 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
3 Year Term
Santa Monica, CA
$13,900,000
Santa Monica, CA
Features
Rate/Term Refinance, Bridge, Retail, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
Los Angeles, CA
$4,700,000
Los Angeles, CA
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Fixed rate
Retail
2 Year Term
Sacramento, CA
$6,200,000
Sacramento, CA
Features
Purchase, Fixed rate, Retail, 2 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
5 Year Term
Jacksonville, FL
$2,600,000
Jacksonville, FL
Features
Rate/Term Refinance, Bridge, Retail, 5 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Various Property Types - Portfolio
3 Year Term
Los Angeles, CA
$16,200,000
Los Angeles, CA
Features
Purchase, Bridge, Various Property Types - Portfolio, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
Houston, TX
$7,500,000
Houston, TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Fixed rate
Student Housing
3 Year Term
Normal & Champaign, IL
$11,900,000
Normal & Champaign, IL
Features
Purchase, Fixed rate, Student Housing, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
5 Year Term
West Valley City , UT
$10,200,000
West Valley City , UT
Features
Purchase, Bridge, Multifamily, 5 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Fixed rate
Mixed Use
7 Year Term
Costa Mesa, CA
$20,100,000
Costa Mesa, CA
Features
Purchase, Fixed rate, Mixed Use, 7 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
3 Year Term
Miami, FL
$7,950,000
Miami, FL
Features
Purchase, Bridge, Retail, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
San Antonio , TX
$25,800,000
San Antonio , TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
San Antonio, TX
$38,900,000
San Antonio, TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
3 Year Term
Miami (Wynwood), FL
$7,900,000
Miami (Wynwood), FL
Features
Purchase, Bridge, Retail, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
Houston , TX
$28,300,000
Houston , TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
Portland , OR
$14,500,000
Portland , OR
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
Freeport, TX
$7,860,000
Freeport, TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
2 Year Term
Houston, TX
$5,590,000
Houston, TX
Features
Rate/Term Refinance, Bridge, Multifamily, 2 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
3 Year Term
Miami, FL
$4,930,000
Miami, FL
Features
Purchase, Bridge, Retail, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Office
3 Year Term
Charlotte, NC
$11,960,000
Charlotte, NC
Features
Purchase, Bridge, Office, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
3 Year Term
Charlotte, NC
$8,400,000
Charlotte, NC
Features
Purchase, Bridge, Retail, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
2 years Year Term
Tampa, FL
$8,900,000
Tampa, FL
Features
Purchase, Bridge, Multifamily, 2 years Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
3 Year Term
Charlotte, NC
$7,570,000
Charlotte, NC
Features
Purchase, Bridge, Industrial, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Office
3 Year Term
Chicago, IL
$33,325,000
Chicago, IL
Features
Rate/Term Refinance, Bridge, Office, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Mixed Use
3 Year Term
Los Angeles , CA
$8,240,000
Los Angeles , CA
Features
Rate/Term Refinance, Bridge, Mixed Use, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
San Antonio , TX
$12,760,000
San Antonio , TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
San Antonio , TX
$16,360,000
San Antonio , TX
Features
Purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Mixed Use
3 Year Term
Denver, CO
$25,070,000
Denver, CO
Features
Purchase, Bridge, Mixed Use, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Retail
2 Year Term
Los Angeles, CA
$5,000,000
Los Angeles, CA
Features
purchase, Bridge, Retail, 2 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
3 Year Term
New York, NY
$5,500,000
New York, NY
Features
purchase, Bridge, Multifamily, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Office
3 Year Term
Chicago, IL
$7,848,475
Chicago, IL
Features
Rate/Term Refinance, Bridge, Office, 3 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
2 Year Term
Philadelphia, PA
$1,520,361
Philadelphia, PA
Features
Rate/Term Refinance, Bridge, Multifamily, 2 Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
San Antonio, TX
$2,765,000
San Antonio, TX
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Austin, TX
$3,200,000
Austin, TX
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Balcones Heights, TX
$3,450,000
Balcones Heights, TX
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Glendale, AZ
$4,300,000
Glendale, AZ
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Garfield, NJ
$5,000,000
Garfield, NJ
Features
Acquisition & Stabilization, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Olathe, KS
$5,765,000
Olathe, KS
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Shaker Heights, OH
$6,000,000
Shaker Heights, OH
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Avon, MA
$6,070,000
Avon, MA
Features
Acquisition & Renovation, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Philadelphia, PA
$6,320,000
Philadelphia, PA
Features
Acquisition, Renovation, & Stabilization, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Greenville, SC
$6,560,000
Greenville, SC
Features
Acquisition, Renovation, & Stabilization, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Jeffersontown, KY
$7,060,000
Jeffersontown, KY
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Jeffersontown, KY
$7,060,000
Jeffersontown, KY
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Jeffersontown, KY
$7,060,000
Jeffersontown, KY
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Miamisburg, OH
$8,060,000
Miamisburg, OH
Features
Acquisition & Stabilization, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Jacksonville, FL
$8,100,000
Jacksonville, FL
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Jacksonville, FL
$8,180,000
Jacksonville, FL
Features
Acquisition & Renovation, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Los Angeles, CA
$8,360,000
Los Angeles, CA
Features
Refinance & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Dallas, TX
$8,515,000
Dallas, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Culver City, CA
$8,900,000
Culver City, CA
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Fairfield, OH
$8,975,000
Fairfield, OH
Features
Acquisition & Renovation, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Hamilton, OH
$8,975,000
Hamilton, OH
Features
Acquisition & Renovation, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Austin, TX
$9,125,000
Austin, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Brewster, MA
$9,190,000
Brewster, MA
Features
Refinance, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Dallas, TX
$9,450,000
Dallas, TX
Features
Recapitalization & Renovation, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Industrial
Year Term
Fort Worth, TX
$10,080,000
Fort Worth, TX
Features
Acquisition & Renovation, Bridge, Industrial, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Tallahassee, FL
$10,110,000
Tallahassee, FL
Features
Acquisition & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Des Plaines, IL
$10,680,000
Des Plaines, IL
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
Bridge
Multifamily
Year Term
Tucson, AZ
$11,150,000
Tucson, AZ
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, Year Term
Description
In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.
PRODUCT OVERVIEW
- Transitional, value-add and event-driven real estate opportunities
- Highly structured loan solutions
- Financing customized to borrower business plan
- Loan size: up to 80% of project cost, 85% senior stretch deal specific
- Term: floating rate up to five years including extensions
- Prepayment: minimum interest
- Future Funding: Capex, TI/LC, earnouts, interest and operating reserves
- Fixed and fixed/floating hybrid loan solutions
Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact bridgecre@readycapital.com.
Commercial Lender Builds on Outstanding 2020 Results
Ready Capital announced strong results for its Freddie Mac Small Balance Loan (SBL) business during the first quarter, extending into 2021 the increased volume of deals seen by the company in 2020. During the first quarter of 2021, Ready Capital closed 62 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $164 million in funding, with a pipeline of over $225 million. The recent quarter’s result builds on the company’s success during calendar year 2020, during which Ready Capital had closed 192 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $545 million in funding.
“The market demand for the Freddie Mac SBL product continued to be elevated into the first quarter of 2021 with approximately $1.4 billion in permanent and small multifamily bridge financing requests, capping off a strong 2020 despite headwinds from the pandemic,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “Furthermore approximately 71% of our production to date meets the criteria for mission-driven, affordability housing, aligning us with the long-term goals of the Agencies.”
In addition to announcing the volume of transactions, Ready Capital also highlighted the geographic diversification of the deals closed by its national lending team. During the first quarter of 2021, the company funded a significant volume of transactions in California, Illinois, Texas, and Colorado and closed additional deals in 10 more states.
Premier Transactions
Ready Capital closed $164 million during the first quarter of 2021 and $545 million during 2020 in Freddie Mac SBL and small multifamily Bridge-to-Agency loans. Individual deals ranged in size from $1 million to $7.5 million with terms ranging from 1 years to 20 years. Average LTV for the Freddie Mac SBL loans was approximately 65.
| Portfolio name | Number of deals in portfolio | Sum of balance (millions) | Notes |
| Portfolio 1 | 12 | $40.0 | Cash Out Refinance
Partial IO, 7 Year term Southern California |
| Portfolio 2 | 3 | $15.5 | Purchase
Amortizing, 10 Year term Chicago and suburbs |
| Portfolio 3 | 2 | $4.4 | Cash Out Refinance
Partial IO, 10 Year term San Diego area |
| Portfolio 4 | 2 | $2.4 | Purchase
Amortizing, 10 Year term San Diego area |
| Portfolio 5 | 2 | $2.5 | Purchase and Cash Out Refinance
Amortizing, 10 Year term Greater Seattle |
| Large Balance Deals | Balance (millions) | Notes |
| Loan 1 | $5.0 | Purchase
Amortizing, 10 Year term Arizona, very small market |
| Loan 2 | $4.2 | Purchase
Partial IO, 10 Year term Dallas area |
| Loan 3 | $3.5 | Cash Out Refinance
Amortizing 7 Year term Portland, Oregon region |
Ready Capital National Bridge Lending Team highlights key real estate deals closed in the third quarter of 2021
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